Credit-Based Loan Timeline

ACTION STEP WHEN SHOULD I ACT? WHERE CAN I GET HELP?
1 Do I need to borrow?
How much should I borrow?
Start researching your options 3 – 4 months before the semester payment deadline. Go here to use our college cost planning calculator.
2 What am I looking for in a loan? Start identifying the elements of a loan that are important to you 2 – 3 months before the semester payment deadline. Go here to learn more about how to identify which loan is right for you.
3 How do I pick a lender? Decide which loan product you will apply for 1 – 2 months before the semester payment deadline. Go here to learn more about loan products.
4 How do I apply for a loan? Be prepared to submit your application approximately 30 – 60 days before the semester payment deadline, to maximize the likelihood that the lender will approve your loan by the date the bill is due. To apply for private creditbased loans, go to the website of whichever lender you choose. If you choose a loan listed on BU’s ELM Select web page, go here to apply.

To apply for the Federal PLUS Loan at BU, go here to apply.